Applications open for $2m Māori Innovation Fund

Māori Development Minister Te Ururoa Flavell today announced that applications are open for the 2016 round of Te Pūnaha Hiringa: Māori Innovation Fund Commercial Advisors Scheme.

Funding of more than $2 million is available to help Māori realise the economic potential of their assets.

“Through Te Pūnaha Hiringa: Māori Innovation Fund, Māori collectives can contract a commercial advisor to provide professional business advice and mentoring,” Mr Flavell says.

“This is a fund that helps Māori gain the skills, knowledge and networks they need to take full advantage of their resources, identify opportunities, get new ventures off the ground or grow existing businesses and asset bases.

“There was strong demand for the last round of funding and positive feedback from recipients. We’re expecting a high number of applicants this year.”

Each investment will be for a maximum of $75,000 over one year. Successful collectives are also required to co-fund their commercial advisor to a minimum of 25 per cent.

Te Pūnaha Hiringa: Māori Innovation Fund supports the implementation of the Government’s Business Growth Agenda and He Kai Kei Aku Ringa - The Crown-Māori Economic Growth Partnership, which provides a blueprint for a productive, innovative, and export-orientated Māori economy.

For more information, visit the Ministry of Business, Innovation and Employment website or He Kai Kei Aku Ringa.